Trustco Bank Corp N Y decreased its holdings in Wells Fargo & Co (NYSE:WFC) by 3.6% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 38,788 shares of the financial services provider’s stock after selling 1,450 shares during the quarter. Wells Fargo & Co accounts for about 2.1% of Trustco Bank Corp N Y’s holdings, making the stock its 16th largest holding. Trustco Bank Corp N Y’s holdings in Wells Fargo & Co were worth $2,139,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the business. Vanguard Group Inc. raised its holdings in shares of Wells Fargo & Co by 1.2% during the second quarter. Vanguard Group Inc. now owns 314,755,460 shares of the financial services provider’s stock valued at $17,440,601,000 after acquiring an additional 3,621,402 shares during the last quarter. Capital World Investors grew its position in shares of Wells Fargo & Co by 10.8% in the second quarter. Capital World Investors now owns 111,753,448 shares of the financial services provider’s stock valued at $6,192,259,000 after purchasing an additional 10,927,679 shares in the last quarter. Capital Research Global Investors grew its position in shares of Wells Fargo & Co by 19.7% in the second quarter. Capital Research Global Investors now owns 45,327,803 shares of the financial services provider’s stock valued at $2,511,614,000 after purchasing an additional 7,445,414 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of Wells Fargo & Co by 17.8% in the third quarter. Dimensional Fund Advisors LP now owns 35,143,414 shares of the financial services provider’s stock valued at $1,937,888,000 after purchasing an additional 5,305,125 shares in the last quarter. Finally, Davis Selected Advisers grew its position in shares of Wells Fargo & Co by 1.9% in the second quarter. Davis Selected Advisers now owns 25,966,811 shares of the financial services provider’s stock valued at $1,438,821,000 after purchasing an additional 472,585 shares in the last quarter. 76.00% of the stock is owned by institutional investors and hedge funds.

Wells Fargo & Co (WFC) opened at $59.55 on Thursday. The firm has a market capitalization of $293,240.00, a P/E ratio of 14.42, a P/E/G ratio of 1.48 and a beta of 1.01. Wells Fargo & Co has a 52-week low of $49.27 and a 52-week high of $66.31. The company has a debt-to-equity ratio of 1.23, a current ratio of 0.90 and a quick ratio of 0.88.

Wells Fargo & Co (NYSE:WFC) last released its quarterly earnings results on Friday, January 12th. The financial services provider reported $0.97 EPS for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.07). Wells Fargo & Co had a return on equity of 12.24% and a net margin of 22.57%. The firm had revenue of $22.05 billion for the quarter, compared to analyst estimates of $22.64 billion. During the same quarter last year, the company earned $0.96 earnings per share. The firm’s revenue for the quarter was up 2.2% on a year-over-year basis. analysts anticipate that Wells Fargo & Co will post 4.72 EPS for the current fiscal year.

Wells Fargo & Co declared that its board has approved a share repurchase program on Tuesday, January 23rd that permits the company to buyback 350,000,000 outstanding shares. This buyback authorization permits the financial services provider to purchase shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 1st. Shareholders of record on Friday, February 2nd will be paid a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 2.62%. The ex-dividend date is Thursday, February 1st. Wells Fargo & Co’s dividend payout ratio (DPR) is 37.77%.

In other news, Director Ronald Sargent purchased 9,000 shares of the firm’s stock in a transaction on Monday, February 12th. The shares were bought at an average cost of $55.98 per share, for a total transaction of $503,820.00. Following the completion of the purchase, the director now directly owns 81 shares of the company’s stock, valued at $4,534.38. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Michael J. Loughlin sold 17,482 shares of the company’s stock in a transaction on Monday, December 4th. The stock was sold at an average price of $57.80, for a total value of $1,010,459.60. The disclosure for this sale can be found here. Insiders have sold 184,482 shares of company stock worth $10,471,050 over the last 90 days. 0.22% of the stock is owned by insiders.

A number of research firms have recently issued reports on WFC. Morgan Stanley upped their price target on Wells Fargo & Co from $72.00 to $75.00 and gave the company an “overweight” rating in a research report on Friday, February 2nd. Keefe, Bruyette & Woods lowered Wells Fargo & Co from an “outperform” rating to a “market perform” rating and set a $63.00 price target for the company. in a research report on Sunday, February 4th. Nomura dropped their price target on Wells Fargo & Co from $79.00 to $76.00 and set a “buy” rating for the company in a research report on Monday, February 5th. BMO Capital Markets restated a “hold” rating and issued a $60.00 price target on shares of Wells Fargo & Co in a research report on Monday, February 5th. Finally, Citigroup lowered Wells Fargo & Co from a “buy” rating to a “neutral” rating and set a $65.00 price target for the company. in a research report on Monday, February 5th. Five equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $76.34.

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Wells Fargo & Co Company Profile

Wells Fargo & Company is a bank holding company. The Company is a diversified financial services company. It has three operating segments: Community Banking, Wholesale Banking, and Wealth and Investment Management. The Company offers its services under three categories: personal, small business and commercial.

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Institutional Ownership by Quarter for Wells Fargo & Co (NYSE:WFC)

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